CONGRÈS INTERNATIONAL DES ACTUAIRES 2014

Comités

Task Force on a Permanent Structure for International Actuarial Standards

Mandat

Created – 23 June 2011, Last revised –

1. Role

To review the ideas in the Report of the Convergence of Actuarial Standards Task Force of September 10, 2010

To seek input from other organisations, such as the IASB and IAIS, as considered helpful

To prepare papers for discussion by the EC and Council in accordance with the schedule below, setting out alternatives

To prepare a final proposal for approval by Council at the appropriate time

2. Expected Timeline

September 2011 (Zagreb) – preliminary discussion with Council

October 2011 – possible Zoomerang survey to narrow down proposals

May 2012 (Los Angeles) – full proposal for discussion with Council

June 21012 – Zoomerang survey to finalise proposals

July 2012 – Electronic vote on proposed structure

November 2102 (Nassau) – final details of implementation for voting

The Task Force will aim to provide an initial report to the EC for its meeting on 30 August 2011

3. Issues to be Considered

Overall Vision for International Actuarial Standards

Identify needs and expectations of internal and external stakeholders

Building on the current work of the IASSC, confirm the purposes and objectives of IAS

Identify the goals of the permanent structure for IAS

Structure

Review how other similar entities such as IASB, IAASB,IAIS, IOPS, and IOSCO are structured

Identify and evaluate the options for the IAA, including the degree of “independence” under each option

Governance

Involvement of Internal stakeholders (ie Member Associations)

Involvement of existing actuarial standard-setters (in some countries, this is independent of the profession itself)

Involvement of External stakeholders(Eg those involved in standard setting in IASB and IAIS, members of other professional bodies, academics, think-tank institutions, industry groups, consumer groups, OECD, IOPS and ISSA )

Resource requirements

Identify the resource requirements and cost implications of a permanent structure. (The Standard Setters Roundtable has already compiled some data.)